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REGISTERED NUMBER: 11953619 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

WALTON FAMILY ESTATES LIMITED

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Report of the Directors 2

Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 6

Notes to the Financial Statements 7


WALTON FAMILY ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: P Walton
J Walton
E M Walton
D Walton





REGISTERED OFFICE: Bruntingthorpe Airfield Proving Ground
Bruntingthorpe
Nr Lutterworth
Leicestershire
LE17 5QS





REGISTERED NUMBER: 11953619 (England and Wales)





ACCOUNTANTS: DNG Dove Naish LLP
Eagle House
28 Billing Road
Northampton
NN1 5AJ

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023


The directors present their report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of commercial property rental.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

P Walton
J Walton
E M Walton
D Walton

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

SIGNED BY ORDER OF THE DIRECTORS:





E M Walton - Director


15 March 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WALTON FAMILY ESTATES LIMITED



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Walton Family Estates Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Walton Family Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walton Family Estates Limited and state those matters that we have agreed to state to the Board of Directors of Walton Family Estates Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Walton Family Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Walton Family Estates Limited. You consider that Walton Family Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Walton Family Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

We align ourselves to, but are not a fully recognised member of, the Association of Chartered Certified Accountants,
and we are subject to its ethical and other professional requirements which are detailed at
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.






DNG Dove Naish LLP
Eagle House
28 Billing Road
Northampton
NN1 5AJ


18 March 2024

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2023

2023 2022
Notes £    £   

TURNOVER 4,485,000 4,012,696

Administrative expenses 220,229 316,553
4,264,771 3,696,143

Other operating income 86,000 37,099
OPERATING PROFIT 4 4,350,771 3,733,242

Interest receivable and similar income 19 270
4,350,790 3,733,512

Interest payable and similar expenses 293 712
PROFIT BEFORE TAXATION 4,350,497 3,732,800

Tax on profit 5 893,184 710,124
PROFIT FOR THE FINANCIAL YEAR 3,457,313 3,022,676

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 442,378 602,017
Investment property 7 64,428,810 64,428,810
64,871,188 65,030,827

CURRENT ASSETS
Debtors 8 155,354 613,300
Cash at bank 2,410,672 1,711,302
2,566,026 2,324,602
CREDITORS
Amounts falling due within one year 9 1,059,046 974,574
NET CURRENT ASSETS 1,506,980 1,350,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,378,168

66,380,855

CAPITAL AND RESERVES
Called up share capital 10,197,927 10,197,927
Fair value reserve 10 55,342,425 55,342,425
Retained earnings 837,816 840,503
SHAREHOLDERS' FUNDS 66,378,168 66,380,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





E M Walton - Director


WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 July 2021 10,197,927 1,017,827 55,342,425 66,558,179

Changes in equity
Dividends - (3,200,000 ) - (3,200,000 )
Total comprehensive income - 3,022,676 - 3,022,676
Balance at 30 June 2022 10,197,927 840,503 55,342,425 66,380,855

Changes in equity
Dividends - (3,460,000 ) - (3,460,000 )
Total comprehensive income - 3,457,313 - 3,457,313
Balance at 30 June 2023 10,197,927 837,816 55,342,425 66,378,168

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Walton Family Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments policy
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 159,639 219,888

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 885,114 707,061
Over/under provision in prior
year (84 ) 2
Total current tax 885,030 707,063

Deferred tax 8,154 3,061
Tax on profit 893,184 710,124

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 1,048,280 142,200 69,824 1,260,304
DEPRECIATION
At 1 July 2022 528,897 71,745 57,645 658,287
Charge for year 129,846 17,614 12,179 159,639
At 30 June 2023 658,743 89,359 69,824 817,926
NET BOOK VALUE
At 30 June 2023 389,537 52,841 - 442,378
At 30 June 2022 519,383 70,455 12,179 602,017

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 64,428,810
NET BOOK VALUE
At 30 June 2023 64,428,810
At 30 June 2022 64,428,810

The investment property is stated at fair market value, as valued by the directors at the year end.

WALTON FAMILY ESTATES LIMITED (REGISTERED NUMBER: 11953619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 55,342,425
Cost 9,086,385
64,428,810

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 443,790
Deferred tax asset 154,283 162,437
Prepayments and accrued income 1,071 7,073
155,354 613,300

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,016 15,850
Amounts owed to group undertakings 10,000 12,000
Tax 440,116 359,561
VAT 223,514 212,163
Accruals and deferred income 379,400 375,000
1,059,046 974,574

10. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 30 June 2023 55,342,425

11. PARENT UNDERTAKING

The company is owned 100% by Walton Family Holdings Limited, their registered office is as per this company.